Swing Trade Idea.
Previous concolidation area of late March 2020/1st week of April 2020 highlighted. Previous gap also falls in the .618-.786 fib retracement. Currently working on A-B-C correction to complete wave (2).
If beginning of wave (3) is accurate and clear upper trend line then shorter term tgts of:
Minimum - $6.60 (1.272 fib)
Tgt 1 - $7.57 (1.618 fib)
If beginning of wave (3) is accurate then likely Inverse Head and Shoulders will develop as drawn.
Alternate scenario is longer consolidation within upper and lower trend lines with evenetual breakout to upside.
Previous concolidation area of late March 2020/1st week of April 2020 highlighted. Previous gap also falls in the .618-.786 fib retracement. Currently working on A-B-C correction to complete wave (2).
If beginning of wave (3) is accurate and clear upper trend line then shorter term tgts of:
Minimum - $6.60 (1.272 fib)
Tgt 1 - $7.57 (1.618 fib)
If beginning of wave (3) is accurate then likely Inverse Head and Shoulders will develop as drawn.
Alternate scenario is longer consolidation within upper and lower trend lines with evenetual breakout to upside.